Tuesday, October 21, 2008

More News in the World Banking Industry

Beyond the stock markets there was other financial news concerning the world economy.

Sweden became the latest government to shore up its financial sector, presenting a plan worth 1.5 trillion kronor (152.2 billion euros, 206.1 billion dollars).

The French government said it would inject 10.5 billion euros (14 billion dollars) into the country's six biggest banks to boost their capital following moves by fellow European countries. Among the beneficiaries, the biggest bank Credit Agricole will get 3.0 billion euros, BNP Paribas will get 2.55 billion and Societe Generale 1.7 billion.

There was also more gloom in Britain, with the release of figures showing its public deficit worsened to 12.6 billion pounds (21.6 billion dollars, 16.2 billion dollars) last month. The September figure compared with a deficit of 8.7 billion pounds 12 months earlier, said the Office for National Statistics.

No comments: